A chart showing two types of clients—current and those new to the agency—and two types of products—those that exist in a clients account and those that are new to the client’s account.

4.20 Account upgrading

Sales activities such as increasing an account’s limits or adding coverage to existing policies to better cover the client’s needs.

4.20 Account selling

Selling new types of insurance products to existing clients.

4.21 Temporary monopoly

A situation in which an agency is currently the exclusive provider of a product/service that clients want/need. It is temporary because other agencies/companies will copy the idea, restoring competition to the market.